Sales of Mattel’s Barbies, Hot Wheels, and Fisher-Price toys are still in decline, as birthrates slump, traditional toys face competition, and the toy industry as a whole struggles. The brand is retooling their internal workings to attempt to move more quickly and put a focus on creativity over meetings and endless PowerPoint decks. The changes include moving smaller, lesser known brands into a group called the Toy Box, which will be treated more as a startup, where teams can take risks and invent new things with less of a bottom-line focus. (WSJ)
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